the 2012 claims cost the higher of that, as you might expect, caused by hurricane sandy. it's insured industry loss down from 2011 down to 119 billion. yesterday's resolution of the fiscal cliffhanger may provide -- but tend of this battle has fired the gun on a secondary gun on the spending cuts and the difficult growth ahead. >> just when you thought we were off the fiscal cliff, all of washington turns its attention one day after the fiscal cliff deal to the next fiscal cliff and that's going to be a fight over the debt ceiling coming in march. the treasury department has said it has some running room here to deal with the u.s. debt ceiling, but it will run out eventually, likely end of february or early march for that. and the deal that was just done here in washington did nothing about the so-called sequester, which is that dramatic series of spending cuts other than punt it for two months. that means early march will be another battle in spending in washington. if that's not enough, coming at the end of march will be a fight over what they call the continuing resolu